Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the first quarter of 2023.
According to its financial results, in the first quarter this year Sandvik recorded a net profit of SEK 3.81 billion ($370.2 million), compared to a net profit of SEK 3.39 billion in the corresponding quarter of 2022. Order intake in the given quarter amounted to SEK 34.36 billion ($3.33 billion), up 12.7 percent, while its revenues came to SEK 30.96 billion ($3 billion), rising by 24.2 percent, both compared to the same quarter of the previous year.
The company’s adjusted EBITDA in the given period increased by 21.4 percent year on year to SEK 6.12 billion ($593.97 million).
Sandvik anticipates its capital expenditure for the current year will be approximately SEK 4.5 billion.